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Digital Assets and Probate: A Practitioner's Guide



  


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Cryptocurrency and Other Digital Assets: Tax Law and Practice


ISBN13: 9781912386536
Published: September 2022
Publisher: Claritax Books
Country of Publication: UK
Format: Paperback
Price: £80.00



In stock.

The crypto world is still a relative novelty, Bitcoin having been launched in 2009. It has introduced its own completely new vocabulary, from Airdrops and Blockchains to Stablecoins and Yield Farming.

As the amounts of money at stake have soared, the world’s tax authorities have been playing catch-up. They are working out how to apply centuries-old concepts to the new realities that challenge even such fundamentals as the nature of “property” or “money”.

In this book, the author explores how established principles of UK taxation – e.g. trading or investment, the nature of income, the location of assets, loss reliefs, other reliefs – are properly applied to the fast-moving crypto world.

Andy Wood trained with Ernst & Young in London and then worked with Grant Thornton in Manchester. He qualified as a Chartered Tax Adviser in 2003 and, shortly afterwards became a member of STEP. Today he is an experienced tax adviser and barrister, and is founder and director of specialist tax advisory firm ETC Tax.

Subjects:
Taxation, Blockchain and Cryptocurrency
Contents:
Part 1: Introduction and Key Principles
1. Introduction
2. Overview of the blockchain and digital assets
3. Cryptoassets as property
4. The principles of taxing digital assets
5. Situs of cryptoassets
6. Are the activities of a trading nature?
7. Fungible tokens – Bitcoin, Ethereum, etc.
Part 2: Taxation of DeFi Transactions
8. Decentralised finance (DeFi)
9. Making cryptoassets available to a DeFi platform
10. Treatment of staking transactions
11. Treatment of cryptoasset lending transactions
12. Cryptoassets as securities lending transactions
13. Quistclose trusts, other trusts and bailments
14. Liquidity pools (LPs)
15. Treatment of investment return
16. Treatment of miscellaneous income (investment return and mining)
17. Withdrawing from the loan/staking agreement
18. Borrowing from DeFi platforms
19. Government call for evidence – taxation of DeFi
Part 3: Non-fungible Tokens
20. Non-fungible tokens
Part 4: Trading Activities
21. Non-fungible tokens – trading activities
22. Mining and crypto-based trading activities
23. Capital allowances
24. Non-mining trading activities
Part 5: Taxpayers That Are Not Individuals
25. Taxpayers that are not individuals
Part 6: Particular Tax Reliefs
26. Research and development tax credits
27. Video games tax relief
28. Venture capital reliefs – EIS and Seed EIS
29. Business asset disposal relief
30. Business property relief
Part 7: IHT and Estate Planning
31. Inheritance tax and estate planning
Part 8: Payments in Crypto
32. Payments in cryptoassets
33. Paying employees in cryptoassets
Part 9: Compliance
34. Compliance
35. Failures in compliance – enquiries and information powers
36. Failures in compliance – HMRC penalties
Part 10: Other Matters
37. Miscellaneous points
38. Final thoughts

Appendix 1 – Detailed case study
Appendix 2 – Glossary
Appendix 3 – Call for evidence – draft response
Appendix 4 – Statutory instruments
Table of primary legislation
Table of statutory instruments
Index of cases
General index

Series: Claritax Books

Non-UK Domiciled Individuals: UK Tax Compliance and Planning ISBN 9781912386659
To be published December 2023
Claritax Books
£95.00
Schedule 36 Notices: HMRC information requests 2nd ed ISBN 9781912386727
Published October 2022
Claritax Books
£85.00
Taxation of Partnerships 2nd ed ISBN 9781912386567
Published October 2022
Claritax Books
£85.00
Employee Share Schemes: Equity Reward for Private Companies 2nd ed ISBN 9781912386208
Published July 2022
Claritax Books
£85.00
Tax Appeals: Law and Practice at the FTT 5th ed ISBN 9781912386604
Published February 2022
Claritax Books
£85.00
Taxpayer Safeguards: Rights and Protections for Individuals 2nd ed ISBN 9781912386512
Published February 2022
Claritax Books
£85.00
Discovery Assessments: How to Challenge Them 3rd ed ISBN 9781912386598
Published January 2022
Claritax Books
£85.00
Construction Industry Scheme: Guidance and Commentary 3rd ed ISBN 9781912386451
Published November 2021
Claritax Books
£80.00
Personal Representatives: A Guide for Tax Practitioners 2nd ed ISBN 9781912386413
Published August 2021
Claritax Books
£85.00
Schedule 36 Notices: HMRC information requests ISBN 9781912386499
Published July 2021
Claritax Books
£85.00
Capital Allowances 2021-22 ISBN 9781912386376
Published May 2021
Claritax Books
Out of print
Inheritance Tax: Lifetime Transfers and the Death Estate ISBN 9781912386345
Published October 2020
Claritax Books
Out of print
Pension Tax Guide 2020-21 ISBN 9781912386369
Published August 2020
Claritax Books
Out of print
Out of print
Furnished Holiday Lettings: A Tax Guide 4th ed ISBN 9781912386222
Published June 2020
Claritax Books
£70.00
Taxation of Partnerships ISBN 9781912386314
Published June 2020
Claritax Books
Out of print
Main Residence Relief 3rd ed ISBN 9781912386239
Published April 2020
Claritax Books
£80.00
Living and Working Abroad ISBN 9781912386260
Published February 2020
Claritax Books
£50.00
Tax Appeals: Law and Practice at the FTT 4th ed ISBN 9781908545879
Published June 2019
Claritax Books
Out of print
A-Z of Plant & Machinery 2019-20 ISBN 9781912386215
Published May 2019
Claritax Books
Out of print
£80.00
Out of print
Personal Representatives: A Guide for Tax Practitioners ISBN 9781912386116
Published March 2019
Claritax Books
Out of print
Stamp Duty Land Tax: A Practical Guide 6th ed ISBN 9781912386178
Published March 2019
Claritax Books
Out of print
Discovery Assessments: How to Challenge Them 2nd ed ISBN 9781912386161
Published February 2019
Claritax Books
Out of print
Managing Risk: A Guide for Accountants and Tax Advisers ISBN 9781912386130
Published February 2019
Claritax Books
Out of print
Employment Status: A Tax Guide 4th ed ISBN 9781912386024
Published January 2019
Claritax Books
£85.00
Employee Share Schemes: Equity Reward for Private Companies ISBN 9781912386031
Published July 2018
Claritax Books
Out of print
Financial Planning with Trusts 2018-19 ISBN 9781912386109
Published July 2018
Claritax Books
Out of print
A-Z of Plant & Machinery 2018-19 ISBN 9781912386062
Published July 2018
Claritax Books
Out of print
Enterprise Investment Scheme and Other Venture Capital Reliefs ISBN 9781912386048
Published May 2018
Claritax Books
£70.00
VAT Registration: Unravelling the Complexities 2nd ed ISBN 9781912386000
Published February 2018
Claritax Books
£60.00
Construction Industry Scheme: Guidance and Commentary 2nd ed ISBN 9781908545954
Published November 2017
Claritax Books
Out of print
Furnished Holiday Lettings: A Tax Guide 3rd ed ISBN 9781908545732
Published June 2017
Claritax Books
Out of print
Residence: The Definition in Practice 3rd ed ISBN 9781908545817
Published January 2016
Claritax Books
Out of print
Research and Development: Maximising the Tax Relief ISBN 9781908545619
Published December 2014
Claritax Books
Out of print
Tax Chamber Hearings: A User's Guide 3rd ed ISBN 9781908545527
Published April 2014
Claritax Books
Out of print
PAYE: A Practical Guide 2012-13 ISBN 9781908545176
Published October 2012
Claritax Books
Out of print
Capital Allowances for Fixtures: 2012-13 ISBN 9781908545152
Published April 2012
Claritax Books
Out of print